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Updated over 5 years ago on . Most recent reply
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Is this Multi Home Deal Solid?
All: I have a landlord in my area that is interested in selling their properties. I have the option to purchase them individually or all together. They are D class homes but have long rental history. They all need some work done to them, but I don't see anything significant at the moment. I believe that I can raise the rents by $50 per unit after adding a little TLC to them. This seems to be a good purchase overall, but I am still learning how to analyze deals.
Please let me know you thoughts. Is this a good overall deal or should I only purchase the best ones? Seller is open to seller financing.
Address | Price | Monthly Rent | Annual Taxes | Percentage Rule: |
Property #1 (7 Units total; Combined rent is $1970) | $90,000 | $1,970 | $2,200 | 0.021888889 |
Property #2 | $25,000 | $240 | $650 | 0.0096 |
Property #3 | $35,000 | $325 | $732 | 0.009285714 |
Property #4 | $28,000 | $400 | $725 | 0.014285714 |
Property #5 | $38,000 | $400 | $805 | 0.010526316 |
Property #6 | $45,000 | $400 | $877 | 0.008888889 |
Property #7 | $30,000 | $375 | $777 | 0.0125 |
Property #8 (needs work and not rented, but going monthly rate is $400) | $15,000 | $0 | $344 | 0 |